Sally Beauty Holdings, Inc. (NYSE: SBH) shares fell on Thursday February 2 on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.10% fell 34 points, or 0.2%, to 19,858. The S&P 500 SPX, -0.11% lost 4 points to 2,276, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.05% slid 16 points, or 0.3%, to 5,626. Among the most actively traded Nasdaq stocks was Facebook Inc FB, +0.31% which fell 0.7% a day after it reported its quarterly results.
Oppenheimer Holdings, Inc. analysts reiterated its Market Perform rating on Sally Beauty Holdings, Inc. (NYSE: SBH) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Market Perform on the stock. A number of other analysts have spoken on the stock in recent days, and Sally Beauty Holdings, Inc. has earned a consensus one-year price target of $28.25, higher than the opening price of $22.34. Sally Beauty Holdings, Inc. stock has a 52-week high of $32.93. Usually, after analysts assign a “reiterated rating” report on a stock, they will subsequently issue other updates, often followed by a price target change.
Shares of Sally Beauty Holdings, Inc. (NYSE: SBH) opened at $22.34 yesterday trading between $21.72 and $22.62, and last traded at $22.09, which represents a dip of $2.06 from the previous closing price.
Sally Beauty Holdings, Inc. (NYSE: SBH) now has a market cap of 3.19B.
Sally Beauty Holdings, Inc. (NYSE: SBH) Average Daily Trading Volume
The stock’s average daily volume is 1,820,250 shares out of a total float 143,862,000 and some 2,780,688 shares crossed the trading desk yesterday, 54 percent higher than normal. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Sally Beauty Holdings, Inc. (NYSE: SBH) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Sally Beauty Holdings, Inc. (NYSE: SBH) now has a 50-day MA of $25.88 and 200-day MA of $26.76. It has traded in a 52-week range between $21.72 – 32.93 and today’s last price is 32.92%% lower than the 52 week high of $32.93.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more for the past 3 years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.